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Property profile & analytics
OFF-MARKET
Estimated value
$3,395,000
Community centers
808 Western Ave Los Angeles, CA 90005-3301
Individually Owned
12-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US10-2958696
Property profile
Verified
Property type
Community centers
Use group
MINI-MALL
Year built
1922
Construction
WOOD
Total area
11,038 SF
Lot
1.4 ac (60,897 SF)
Zoning code
LAC2
APN
5093-008-015
UPID
US10-2958696
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Eunmi Chae Optometry Inc Physician
-
EOGE Chimney & Cleaning Services Inc. General Contractor Renovation Specialist
-
Liquid Nation, Inc Industrial Manufacturer Production Facility
-
Wizwa Trucking Company
-
Well Massage II Alternative Medicine Practice Spa & Massage Center
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$4.60M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$3.40M
Owner & transaction history
Jong H Kwak · 12 yrs held
Jong H Kwak
since 2014
7 recorded transactions
Zoning & alternative use
LAC2 · Los Angeles, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$5.5M
+18.5%
Medical building
$5.0M
+7.6%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Los Angeles submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Los Angeles submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$4,980,000
6.5%
$4,600,000
7%
$4,270,000
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$4,675,000
Current use
OFFICE BUILDING
$5,540,000
Change: +19% · Conversion: Moderate
MEDICAL BUILDING
$5,030,000
Change: +8% · Conversion: Difficult
RETAIL STORES
$4,530,000
Change: -3% · Conversion: Easy
Blend value · Realmo final
$3.40M
Range $3.06M – $3.73M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$308 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$291,359
Tax year 2023
Assessed value
$24,216,768
Assessed 2023
Previous assessed
$24,216,768
+0.0% YoY
Effective rate
1.20%
On assessed value
Assessed land
$12,583,052
Assessed improvement
$11,633,716
Applied tax rate
6.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Community centers
Use group
MINI-MALL
Status
Off-Market
Year built
1922
Construction
WOOD
Heating
NONE
Stories
1
Total area
11,038 SF
Lot
1.4 ac (60,897 SF)
Zoning code
LAC2
APN
5093-008-015
UPID
US10-2958696
Jurisdiction
LOS ANGELES
Metro division
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN DIVISION
Zoning & alternative use
LAC2 · Los Angeles, CAZoning LAC2 · permitted uses
LAC2 · Los Angeles, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$4.7M
OFFICE BUILDING
Est. value
$5.5M
MEDICAL BUILDING
Est. value
$5.0M
RETAIL STORES
Est. value
$4.5M
NEIGHBORHOOD: SHOPPING CENTER Current
OFFICE BUILDING
MEDICAL BUILDING
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1922
Construction
WOOD
Heating
NONE
Stories
1
Lot
1.4 ac
Current owner
From public records · entity-resolved
Jong H Kwak
Individual
Mailing address
3470 WILSHIRE BLVD #700, LOS ANGELES, CA 90010-2207
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2014
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
9 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 5, 2019
—
Western Plz Cap Holding LLC
—
Grant Deed
related
$5,000,000 · Ctbc Bk Corp (usa)
Apr 7, 2014
$483,000
Jong H Kwak
I B Plaza LLC
Grant Deed
—
Apr 7, 2014
—
Jong H Kwak
Hyang M Kwak
Quit Claim Deed
related
—
May 5, 2006
—
I B Plaza LLC
Dai R Lee
Grant Deed
$7,000,000 · Center Bank
Feb 23, 2004
$3,750,000
Dai R Lee
Personal And Business Storage
Grant Deed
—
—
—
Personal Storage
—
Deed Of Trust
related
$325,000 · Individual
—
—
Hanna Lee
—
Deed Of Trust
related
$275,000 · 2020 INC
—
—
Lee,dai R & Debbie K
—
Deed Of Trust
related
$3,750,000 · Wilshire St Bk
—
—
Dai R Lee
—
Deed Of Trust
related
$3,750,000 · Wilshire State Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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